Telefónica: a blockchain platform for selling personal data
Telefónica: a blockchain platform for selling personal data

Telefónica: a blockchain platform for selling personal data

By Fabio Lugano - 22 Feb 2019

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The multinational communications company Telefónica, has started testing the implementation of a blockchain based platform on which users can manage and eventually sell their personal information.

The news was given by Wibson, an organisation that, through a decentralised platform, offers the possibility to offer the sale of personal data and certificates in exchange for remuneration.

Telefónica intends to use Wibson to certify the data of its users. The test will start on a smaller scale and will initially concern the related Uruguayan Movistar

According to Gonzalo Martin-Villa, head of innovation at the Telefónica group:

“Blockchain not only allows us to work with new business models related to personal data. It gives us the opportunity to add a trust layer to operations and design new disruptive services”

The Wibson platform was launched last October and allows users to certify the authenticity and correctness of their data and to be able to manage the operation in a conscious and remunerated way.

The payment is made through the WIB token and the offers of operators who are interested in buying, be they marketers, market researchers or academics, are always well detailed on the purpose of their use.

Telefónica has been following the activities of Wibson’s blockchain platform for some time and last year it acquired a stake in the company through its venture capital Wayra which operates in collaboration with the other venture capital DGG and Kenetic Capital.

Wibson’s CEO and Co-Founder, Mat Travizano, said:

“We want to create a transparent and fair environment where consumers and data buyers, such as marketers and advertisers, are all treated fairly and can fully benefit from the free flow of data in the economy”.

Fabio Lugano

Graduated with honors from Bocconi University, Fabio is a consultant for companies and wounded shareholders of the Banche Venete. He is also the author of "Scenari Economici", and lecturer and analyst of cryptocurrencies since 2016.

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